AT&T Posts Profit In Q4, Adj. EPS Miss Estimates; Sees FY24 Adj. EPS Below Market

(RTTNews) - Telecom giant AT&T, Inc. (T) reported Wednesday that its fourth-quarter net income attributable to common stock was $2.14 billion, compared to last year's loss of $23.57 billion.

Earnings per share were $0.30, compared to prior year's hefty loss of $3.20.

Adjusted earnings per share from continuing operations was $0.54, compared to $0.61 in the year-ago quarter.

Total operating revenues grew 2.2 percent to $32.02 billion from last year's $31.34 billion.

Analysts on average expected the company to report earnings of $0.56 per share on revenues of $31.48 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

For the full year 2024, AT&T expects adjusted earnings per share of $2.15 to $2.25, while analysts estimate $2.46 per share.

In 2025, the company expects to deliver adjusted earnings per share growth.

In pre-market activity on the NYSE, the shares were trading at $16.70, down 3 percent.